Businesses have until 28 September to enter the competition for 2013.
The Queen’s Awards for Enterprise are highly prestigious awards for outstanding achievement by UK businesses in the categories of Innovation, International Trade and Sustainable Development. The Queen’s Award for Enterprise Promotion is awarded to individuals.
The awards are made annually by HM The Queen, and are only given for the highest levels of excellence demonstrated in each category. They are judged to a demanding level and winners receive a number of benefits and worldwide recognition.
Click here to find out more and to enter the competition.
The Tour de France victory by Bradley Wiggins may have lifted spirits but, according to the fifth DHL/BCC Trade Confidence Index, that looks like the only encouragement exporters will get from the continent in the near future.
Produced by the leading logistics company and the British Chambers of Commerce (BCC), the Index is recognised as a measure of the UK’s exporting health. The latest edition reveals however that expectations for a “super summer” have been overshadowed by the Euro-zone crisis and concerns around currency fluctuations.
The report, which draws on a survey of over 1000 exporters and an analysis of export documentation (required of all companies exporting goods outside the EU) found 40% of firms stating that exchange rates were a concern.
A net balance of just +21% of firms felt profitability would increase in the coming 12 months, down from +30% the previous quarter, with falling profitability expectations across all firm sizes.
These results were in spite of the expectations of a summer of celebrations and high hopes for the economic impact of the Olympics and other events on exporters.
They are in stark contrast to research conducted in 2010 by DHL, which found that 56% of businesses anticipated that the focus on London over this period will create greater global demand for British goods.
Phil Couchman, CEO of DHL Express UK and Ireland said he remained confident that this once-in-a-lifetime opportunity, putting British businesses firmly in the spotlight, could still present a fantastic opportunity to make inroads internationally.
He highlighted the fact that the Index showed an increase in the number of firms reporting an increase in export orders, up from +39% in the first quarter (Q1) to +49% in Q2.
“To sustain momentum,” he concluded, “businesses large and small should start thinking now about how best to serve this international audience once the events are over, by initiating an export programme for their goods and services to reach that target market.”
Recent estimates suggest that deepening relationships between the EU and its key trading partners could contribute significantly to Europe’s recovery.
If the EU pursues its ambitious external trade agenda this could boost the EU’s GDP by 2%, or more than €250 billion, MEPs were told recently. This is equivalent to adding an economy the size of Austria or Denmark.
An ambitious agenda could also help create more than two million jobs across the EU.
By 2015, 90% of economic growth will be generated outside Europe, with one-third in China alone. Hence, tapping into the markets of the Union’s key trading partners will play an increasingly significant role for Europe’s growth in the future, the European Parliament was told at a recent meeting.
More than two-thirds of these gains in growth and jobs would materialise through trade agreements with the USA and Japan.
Having seen the free trade agreement (FTA) with South Korea through to its first anniversary recently, the European Commission believes that FTAs are “within reach” this year with Canada and Singapore.
Despite difficulties in moving forward in the multilateral context of the World Trade Organization (WTO), the Commission said, the EU has not stood still in the face of rapid changes in the global economy and is moving ahead to further connect to new global growth centres.
FTAs covered less than a quarter of EU trade before 2006. Concluding on-going negotiations with Canada, Singapore, India and other ASEAN states would bring this figure up to half, and moving forward with the USA and Japan would bring it up to two-thirds.
The EU remains the world’s largest exporter, importer, source and recipient of foreign direct investment (FDI). It has managed to hold on to its 20% share of total world exports despite the rise of China, whereas Japan and the USA have seen significant declines in their shares.
A third of UK SMEs think that the British pound will be replaced in the next 20 years and almost half (41%) of the small business owners surveyed believe that the Euro-zone will cease to exist in its current form.
The research, carried out by currency specialist Moneycorp, found Greece topping the list of countries expected to leave the single currency, followed by Ireland. A surprisingly high 33% of SMEs have gone so far as to put contingency plans in place in case the euro disappears.
Despite the Government’s hopes for an export-led recovery based on a weak pound, more than two-thirds (68%) of small business owners claim that they have not seen any such rise in export sales.
Currency fluctuations are cited as the biggest hurdle for operating overseas (24%), followed by language barriers (19%). Almost half (44%) of those questioned are unclear about the possibility of the pound strengthening against other currencies in the next six months.
Chris Redfern, currency dealer at Moneycorp, said: “The turmoil that has continued to plague the Euro-zone for the last two years, combined with a fluctuating pound has led to uncertainty among small business owners about the future of the established currency arrangement. Planning ahead, establishing forward contracts and getting the right advice will be key in steering SMEs through future foreign exchange storms.”
A UK State aid scheme that aims to reduce the cost of finance for businesses with turnover of up to €300 million is to be allowed to run for a further six months, the European Commission has confirmed.
Earlier this year it decided that the National Loan Guarantee Scheme was in line with the EU’s crisis State aid rules for banks, because it ensured that the reduced funding costs from which banks will benefit were passed on to SMEs. That authorisation lasted only until 30 June. However, the Commission has now extended that deadline to 31 December 2012.
The UK credit easing scheme was originally limited to small and medium-sized firms with a turnover of up to €60 million, but has since had its scope widened. The Commission agreed that it still met the rules for the banking sector during the economic crisis.
“Facilitating SMEs’ access to finance is a Commission priority to overcome the crisis,” Competition Commissioner Joaquín Almunia said. “The National Loan Guarantee Scheme will reduce borrowing costs for SMEs thanks to a State guarantee, without unduly distorting competition.”
Senior Government Ministers have met leading UK and Chinese industrialists at a global business summit in London, timed to take advantage of the Olympic Games and aimed at fostering trade ties with China, the world’s second largest economy.
The China Entrepreneur Club, which groups the leaders of businesses that account for around 4% of China’s GDP, has partnered on this event, which is one of 17 global business summits taking place during the Games, organised by UK Trade and Investment (UKTI).
Among the companies attending from both countries will be SOHO China, Bosideng, Jaguar Land Rover and Net-a-Porter.
Foreign Secretary William Hague said: “We have been working to increase our already strong bilateral ties with China, expanding our range of co-operation and adding 60 new staff across the Foreign and Commonwealth Office’s China Network.”
In figures recently announced by UKTI, China moved up to third place as a source of inward investment projects for the UK, with pride of place going to a consortium led by Cheung Kong Infrastructure Holdings, which is acquiring UK gas company, Wales and West Utilities.
The total value of this deal, including the debt component, is almost £2 billion.
Secretary of State for Energy and Climate Change, Edward Davey, said: “This is an exciting time for the UK, as we welcome visitors from around the world for the Olympics. This is a chance for us to showcase not just our capital and our nation’s sporting heritage, but also the investment opportunities on offer – especially in the energy sector.”
Coinciding with the Summit, the Building Research Establishment has announced that British companies have won over £600,000 of construction contracts for the Beijing Green Building Park, and Chinese retailer Bosideng has opened its first overseas flagship store, on London’s Bond Street.
This £35 million investment will create 40 new jobs.
At the beginning of May, the EU and USA formally agreed to recognise each other’s certified trusted traders, which should make life easier and cheaper for many transatlantic traders.
Introduction The agreement will result in lower costs, simplified procedures and greater predictability in transatlantic activities. Companies recognised as safe traders will benefit from faster controls and reduced administration for customs clearance. Mutual recognition will also improve security on imports and exports by enabling customs authorities to focus attention on real risk areas. It was agreed to implement the mutual recognition decision from 1 July 2012.
Imports and exports between the EU and USA accounted for almost €500 billion in 2011. This agreement should further boost trade opportunities and contribute to the smooth flow of goods between the two sides without compromising security. The mutual recognition of trade partnership programmes also has the benefit of preventing the proliferation of incompatible standards and promoting harmonisation of customs practices and procedures worldwide.
Authorised Economic Operators At present, there are about 5000 companies approved as Authorised Economic Operators (AEOs) in the EU. European companies have been able to apply for AEO status since 2008. It can be granted to any economic operator established in the EU that meets the following common criteria stipulated in customs law:
an appropriate record of compliance with customs requirements
a satisfactory system of managing commercial and transport records that allow appropriate customs controls
proven financial solvency
appropriate security and safety standards
AEO status allows companies to benefit both from simplifications provided for by the customs rules and/or facilitation with regard to customs controls related to security and safety, according to the type of certification they obtain. Under the security framework that has been applicable since July 2009, economic operators have to submit pre-arrival and pre-departure information on goods entering or leaving the EU. The security type of AEO certificate and the combined certificate allow their holders to benefit from facilitations with regard to the customs controls relating to security.
The AEO status therefore identifies safe and reliable businesses engaged in international trade with high standards of security and compliance. These companies are then highly trusted trade partners at customs checks. Fewer inspections on goods are necessary and formal customs procedures are quicker to fill in, so goods can move faster from one place to another, which helps to lower transport costs. More effective container inspection can lead to important cost savings for companies, in particular SMEs. There is also a benefit to EU customs administrations, which can concentrate their efforts on checking high-risk transactions.
Under the new agreement, the EU and USA will recognise each other’s security certified operators so that authorised economic operators in the EU will receive benefits when exporting to the US market and the EU will reciprocate for certified members of the US Customs-Trade Partnership Against Terrorism (C-TPAT). Mutual recognition of trade partnerships helps to improve protection against terrorist attacks.
Mutual recognition The EU wants its major trade partners across the world to recognise the AEO status to facilitate and protect international trade even more in the future. Switzerland, Norway and Japan already mutually recognise the EU’s certification and a similar agreement is being explored with China.
The Transatlantic Economic Council is the central political platform for EU-US co-operation on a wide range of high-profile regulatory and strategic issues, with the objective of furthering trade and investment and ultimately growth and jobs. It offered important political support to achieve the EU-US mutual recognition.
UK trade deficit in goods and services was £4.3bn in June, compared with a deficit of £2.7bn in May
Commenting on the trade figures for June, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“It is disappointing to see such a large trade deficit in June. Although the monthly figures would have been affected by public holidays, such as the Diamond Jubilee, it is worrying that the trade deficit in the second quarter as a whole was much higher than in the first. Underlying export volumes fell by 3.3% in the second quarter, while import volumes fell by only 0.5%. There is no question that British exporters are facing major challenges as a result of problems in the eurozone, but the rebalancing of the UK economy towards exports is taking too long.
“British exporters have untapped potential to expand, but they need more government support to help them compete globally and diversify towards growing markets outside the EU. We need firmer action in key areas such as trade finance, promotion and insurance. More infrastructure spending and the early creation of a business bank would make a major contribution towards stronger growth in UK exports.”
Join the Norfolk Chamber at the Festival of Social Enterprise and see how to grow your Charity or Social enterprise.
Of the many emerging sectors in UK business, Social Enterprise is one sector that is growing not just in Norfolk but also right across the UK. We know that government funding and contracts have been cut and Non -profit organisations and Charities now have to look at generating their income by diversification and earn income through mutually beneficial relationships with businesses from all sectors.
Overcoming issues they face and learning new ways to be innovative is just a hint of what on offer at this great event.
Hear from Top Social Enterprise organisations In The Curve such as Nigel Kershaw OBE (Big Issue Invest), Michael Norton (Buzzbnk) Cliff Prior (Unltd) and David Floyd (Social Spider CIC).
Learn new ideas and skills in The Cube with workshops by Sara Burgess, (CIC Regulator, Companies House), James Kearns (Build), Lyndon Green, (LGL)and Clayton Anderson, SOS Training and Evaluation & Ken Shelton, The Robert Ashton Organisation
We will be exhibiting along with lots of other great exhibitors in the Atrium featuring
Following the historic Aung San Suu Kyi visit to the UK and Europe, the suspension of sanctions by the EU and the easing of sanctions by the US it is clear that Burma/Myanmar is re-entering the international business community.
High-profile investor Jim Rogers recently said that Myanmar/Burma was “probably the best investment opportunity in the world right now”, comparing it to China when it opened up in 1978.
A blue chip British delegation on a recent trip included Anglo American, BP, British Gas, Ernst & Young, Rolls Royce and Shell. One key conclusion was of an urgent need for massive investment in all aspects of infrastructure. British Industry shouldn’t miss this opportunity.
To meet this need, City & Financial, with the support of UK Trade & Investment (UKTI) and the UK-ASEAN Business Council, is organising The New Burma Investment and Trade Summit in Central London on 27th September 2012. The Myanmar-Britain Business Association is also supporting the event.
The Summit has been tailored to provide delegates with practical information about doing business in Burma/Myanmar. It will also offer a platform for networking with other UK companies that are likely to be at the forefront in tendering for major contracts.
More detailed information can be found here. To obtain 10% discount on the cost of this event, please mention that you heard about it from Norfolk Chamber of Commerce.
Manufacturing output for June 2012: -2.9% on the month, -4.3% on the year
Commenting on the manufacturing output figures for June, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“While many expected a large decline in manufacturing output in June due to the Queen’s Jubilee, the decline was less than some predicted, and less than the ONS implied in its provisional GDP estimate for Q2 2012. However the decline is disappointing, and the latest index of production indicates that manufacturing output will record a 2% fall in 2012, and the economy as a whole will be in negative territory.
“Longer-term trends in manufacturing are still disappointing. Manufacturers and businesses in other sectors are adjusting to a more difficult reality of weaker growth prospects. But British businesses have considerable potential to make progress, and it is down to the government to help them fulfill this. As the government continues with steps to reduce the deficit, and problems in the eurozone continue, more action is needed to help the economy return to growth.
“More QE is not the most effective remedy. The government should concentrate on aggressive deregulation, infrastructure spending, ensuring the Funding for Lending Scheme is successful, and steps aimed to help manufacturers, and other businesses, export.”
EU is most popular market for UK exporters, but for a third of firms the disadvantages associated with regulation imposed by Brussels outweigh the benefits of the Single Market
Economic developments in the eurozone is top of the list of issues businessowners believe will affect their firm this year and next, according to a poll of almost 2,000 firms released today by the British Chambers of Commerce (BCC). Over half (52%) of firms believe that the eurozone crisis will have a significant influence on their business in 2012 and 2013, followed closely by cuts to UK public sector budgets (46% of businesses), and access to finance (42% of businesses).
The EU remains the favoured export destination for UK firms. The majority (78%) of businesses believe that it is relatively easy to do business with other countries in Europe, however it only has a small lead on the USA & Canada – 62% of firms believe it is easy to trade with these countries, followed closely by Australia and New Zealand (60% of firms). At the other end of the spectrum, 44% of businesses find it difficult to trade with Brazil, 52% with Central and South America (excluding Brazil). Almost two-thirds of firms (63%) find it difficult to trade with Russia.
The survey also found over one third of firms (35%) believe that the disadvantages of rules and regulations imposed by Brussels outweigh the benefits of being part of the Single Market.
The results follow findings released last week showing that British businesses are not in favour of further EU integration. The survey found that only 12% of firms want to leave the EU altogether. Almost half of businesses (47%) want to negotiate a looser relationship but with the UK remaining a member of the European Union. Only 9% of businesses want further integration.
Commenting on the findings, John Longworth, Director General of the British Chambers of Commerce (BCC), said:
“British firms seem to feel that the balance of advantage of EU membership is lessening. That one third of firms think the negatives associated with membership in the form of regulation outweigh the benefits of the Single Market is surprising. It demonstrates that more must be done to make the Single Market work better for businesses looking to export. This includes the creation of a digital single market, making a reality of the internal market for energy, and deepening the single market in services.
“While UK companies find it easier to trade with other countries in Europe, the lead is not as strong as it should be, and it is an indictment of the Single Market that it is almost as easy to trade with countries as far as away as the US, Canada, Australia and New Zealand. The UK government must help to deliver a Single Market that works, and make efforts to stem the tide of regulation from Brussels that prevent business from growing.”